Factors That Influence Consumers

Factors That Influence Consumers

1. Price

   • Income and substitution impacts the consumers preference, it is the relationship between price and demand.

2. Income and substitution impacts the consumers preference, it is the relationship between price and demand.

   • Marketing

3. Availability and cost of finance

   • A person may not be able to buy an item because of the price. Some companies offer multiple payment options, this will increase the possibility of the consumers purchase.

4. Consumer preference

   • Choices based on individual desires.

5. Fashion trends

   • They lead to short term changes in the pattern of demand.

6. Convenience

   • The degree of inconvenience influences the consumers preferences such as delivery and other options.

7. Health, ethical and environmental

   • Consumers are influenced by their emotions, beliefs, religion and convictions when purchasing products.